No company is too small or too close to the end when it comes to investors taking one last kick at the can, trying to talk other suckers into betting on a rebound.

A couple of years ago, we commented here on LookSmart (LOOK)'s not-dead-yet act. A few would-be investment gurus chimed in with comments, asking us to "look again" at the company's bright future.

As expected, a dead company became even more dead in the ensuing years. The ugly results are plain to see. Since our little chat, investors would have lost 65% on the investment, had they bought that day. One of the company's bright spots, a minor partnership with IAC, is ending soon, as announced in May. Even optimists will have trouble disputing that this company is winding down.